market research

March 2007

March 2007 » Market Analysis » NYC Buildings For Sale

March 2007 New York Buildings For Sale


New York City Buildings For Sale

  • Freedom Tower is for sale and bids are being solicited by the Port Authority of NY/NJ.
  • 1344 York Avenue, a 470,000 RSF building, is for sale, asking $500 Million.
  • 90 Fifth Avenue, a 129,000 RSF building, is for sale, asking $100 Million.

Manhattan Buildings Sold

  • 450 West 33rd Street, a 800,000 RSF office building, sold for about $700 Million.
  • One Park Avenue, a 913,000 RSF office building, sold for $550 Million or $602/RSF.
  • 2 Park Avenue, a 960,000 RSF office building, was sold for $519 Million.
  • 1745 Broadway, a 675,000 RSF office building, was sold for $509 Million or 754/RSF.
  • 1328 Broadway, a 360,000 RSF mixed-used building was sold for $500 Million or $1,400/RSF.
  • 1330 Sixth Avenue, a 522,000 RSF office building, was sold for 498 Million or $954/RSF.
  • 85 Tenth avenue, a 600,000 RSF office building, is in contract for $430 Million or $717/RSF.
  • 80 Columbus Circle (the Mandarin Oriental Hotel), a 248 room hotel, a 73% share of the hotel was sold for $340 Million or $1.37 Million/key.
  • 1568 Broadway (Doubletree Guest Suites), a 43 Story, 460 room hotel, was sold for $180.2 Million.
  • 230 West 55th Street, a 200,000/RSF apartment building, sold for $130 Million or $650/SF.
  • 200 West 57th Street. a 120,000/RSF office building, was sold for $126 Million which translates into $1050/RSF.
  • 245 East 19th Street sold for 130.5 Million.
  • The Museum of Modern Art sold a 17,602 RSF vacant lot for $125 Million.
  • 420 East 80th Street, a 137,238 RSF apartment building, was sold for $62 Million
  • 420 Fifth Avenue, a 116,000 RSF office condominium, was sold for $58.5 Million or $505/SF.
  • 700 Broadway, a 100,000 RSF office building, was sold for $53 Million or 530/RSF.
  • 15 West 68th Street, a 12,200 RSF townhouse, was sold for $14.5 Million or 1,189/RSF.
  • 176-182 West 82nd Street (4 buildings containing 28,800 RSF) was sold for $12 Million or $417/SF.
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